Do I need to mail my 1099-B Statements?

[burkhsar000]

There's a blurb at the bottom of the 1099-B Section stating I need to finish reporting my stock sales by mailing in a form. Is this mailed in when I e-file my tax return, or would I need to mail in my 1099-B forms separately?

[MR_ED · Accepted solution]

No you don't mail 1099-B forms. The IRS receives copies of all 1099 Forms. You input the information that is on the form and the correct tax forms and schedules are sent to the IRS when you e-file.

[moppymcjones86]

Then why is it listed on the page that you have to mail it in to complete it?

[rjs]

Did you choose the option to enter a summary instead of entering each sale? If so, then you have to mail a copy of the brokerage statement listing the individual sales. You have to send a statement, not copies of individual 1099-B forms. If you e-file, TurboTax will produce a Form 8453. You print the Form 8453 and attach the brokerage statement(s) to it. If you file by mail, attach the statement(s) at the back of your tax return, after all the forms and schedules. In either case, click the "mailing instructions" link in the message at the bottom of the TurboTax page and follow the instructions that it displays.

[mir-adams9]

if I already e-filed but forgot to take down that information, is there a way for me to still access form 8453 and the mailing instructions?

[zwtart]

It is explained on the first few pages of the Turbo Tax PDF Return Doc that Intuit provides for your records

[MH2]

If the IRS receives copies of all 1099(B) forms, then why do we still have to mail these forms to them along with Form 8949. I chose to enter a summary of all transactions (i.e. cost basis and proceeds) instead of entering each sale (basically, copied what was on the consolidated 1099B form). Upon completion, I was still reminded to send Form 8453 along with Form 8949 and 1099B to the IRS. Again, isn't this redundant work if the IRS already receives all 1099 forms?

[rjs]

@MH - You don't have to send the IRS copies of 1099-B forms. They do already have that. But 1099-Bs do not always have complete information. If there were sales for which basis was not reported on the 1099-B, (box B, C, E, or F is checked on Form 8949), then you have to either enter each transaction individually on your tax return, or send the IRS a statement showing all the information that would be on Form 8949 for the individual transactions. What you send with Form 8453 is the statement listing the details of the individual sales.

[javier01]

I do it by mail do I attached or not

[SusanY1]

Only include a 1099-B when filing by mail if the form lists tax withholding (which is uncommon.)

@javier01

[fanfare]

IRS receives all your tax documents. That doesn't excuse you from supplying required documents with your tax return.

Yes mailing the consolidated 1099-B is redundant.

Many filers just don't bother to follow the rules.

If you have transaction detail to supply and you are mailing your return, attach it.

Form 8453 is just a cover sheet and is used only if you e-File and you have three business days after your return is ACCEPTED  to mail the paper documents to IRS in Austin TX, which is not a regular filing place for form 1040.

[kdanalan]

2020 ProSeries did not generate a Form 8453 or ask to attach a scanned copy of brokerage statement of sales and exchanges.  Summaries of ST and LT were entered on the a Form 1099 B worksheet in totals. Could not locate a field to attach a file.  Any where to find a notice of the current year protocol?

[PattiF]

To clarify your question, which version of TurboTax are you using?

[kdanalan]

Proseries

1099- b at the top 

filled in the summary st and lt proceeds and cost

[CatinaT1]

This is a community for TurboTax users.  Please go to the Proseries Community to ask your question.